China Slowdown Creates Winners and Losers

7/15/2013 1:42AM

China's economic growth rate slipped to 7.5% in the second quarter, continuing a slowdown that’s affecting industries world-wide. The WSJ's Jake Lee and Alex Frangos talk about who benefits and who suffers as the world’s second-largest economy loses momentum.

This transcript has been automatically generated and may not be 100% accurate.

... the ... Chinese ladies none the Sapien shade you call me stalling but ... now I visits ... Wi Fi now on Asia's today mine GE and joined by reports and Alex Frangos ... I think joining to talk to the status numbers you just have this morning Daddy came in seven point five percent growth ... for the second quarter ended the year before that the slowdown from the first quarter ... aam did come that people's expectations but it's also ... you know it ... before coming to realization that China ... is he knows what is slowing down it's really not can it be that kind of ... powerhouse double digit growth in a place that it's been for the much Alaska get ... sick people will realize if you buy the whole woes for Chris and limits on Chinese health bosses I ... took this very day war the impact of China's slowing economy means for Asia and the rest the Weld well with China has become such a big part of a global climate and a thirteen percent all activity this year five years ago when we were Doherty talk about how big an amazing chandeliers is only six percent to get the sense of ... how important isn't ... it ... the slowdown has trickled very quickly especially commodity exporters like Australia ... Chile Brazil work supplying the Chinese growth engine of new ... building and infrastructure in things like that ... some commodities are weighed and that's hurting those economies ... of a whirl so seeing is ... companies that are selling into China especially if consumers ... are faring ok because consumer spending is doing a lot ok was a okay it was faster ... than the second quarter that was the first quarter ... aam certainly not as fast as it was couple years ago but holding up pretty well ... ALM so creaking of Korean car companies Japanese car companies ... you know saying or doing okay so ... that they lose the fat to say don't illustrating the big one he spied the steering rack ... it feels like many other places the mini stores to bow to some getting hit by news that China cited an Annie Annie went to get well there's winners and losers in this winners who is even within a place like Australia so when we talk to a guy who builds in a mining camps for miners anal even when they're out in and out back and I think ... they're not doing well in the year-ago twins CNET TV couldn't do they couldn't keep their ... in their rooms were your fall that I mean now you know that twenty percent in twenty ... oh that and ... because of the slowdown the Australian dollar has declined in the swing it may be more attractive for tourists come to Australia so we talked the guy ... who see the hotel is brimming with French tourists of all places because they have more buying power there ... is very very complicate the very next paycheck what we know thou subduing force from here as well more than made Islam the sentiment should we be getting ... for it to finance about seven percent stake in great numbers charted at a recent story about will I think the preponderance rate now as everyone is worried on the downside you in a less ... optimistic on the upside to it you really don't know the one thing is clear is that the that that the new government in in Beijing seems to want color explore growth to the lake he can ... maintain their you know very important social stability that there are enough jobs at maybe seven percent growth that was hinted at last week by the finance minister ... so of the world is gonna get used is China being you're not quite as robust as it use to be ... but not one albeit bad thing is ... that he knew the ship of varied to find the ones who read and stick on meaning to keep that in use ... for the future with any of the fastest and that will absolutely leaving everyone knew most everyone agrees that we're where China wants to get away from investment more towards can you consumption consumer spending ... for that to happen the economy needs to slow down the question is ... to slow down gently you know from eight percent to seven a half to seven in everyone's fine can live with it where's there's some sort of you know something you know as things slow down there's something unexpected happens and we ... do get a real unit downshifted acid people are really worried about is that this process plays out ... you know I think you so much for joining us Frangos ... reports ahead of the Wall Street John all ... that's it Asia's day find JTB but for more on that story and many more please get to dovish to go home ...